Pengxin Mining(SH:600490)2022-10-27 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥3,367,195,923.41, representing a year-on-year increase of 27.43%[6] - The net profit attributable to shareholders for Q3 2022 was -¥191,635,203.73, a decrease of 782.79% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was -¥198,348,298.89, a decrease of 958.22% year-on-year[10] - The basic earnings per share for Q3 2022 was -¥0.0866, a decrease of 781.89% compared to the same period last year[10] - The diluted earnings per share for Q3 2022 was -¥0.0896, a decrease of 805.51% year-on-year[10] - Net profit for the third quarter of 2022 was a loss of CNY 408,392,211.32, compared to a profit of CNY 101,167,813.85 in the same quarter of 2021[45] - The company reported a significant increase in financial expenses, totaling CNY 51,127,919.86 in the third quarter of 2022, compared to CNY 32,226,416.80 in the same period of 2021[45] - The company experienced a decline in investment income, reporting a loss of CNY 39,521,154.10 in the third quarter of 2022, compared to a gain of CNY 30,123,568.32 in the previous year[45] - The basic earnings per share for the third quarter of 2022 was -0.1443, compared to 0.0405 in the same quarter of 2021[48] - The company’s total comprehensive income for the third quarter of 2022 was CNY 45,523,217.95, compared to CNY 20,376,099.77 in the same period of 2021[48] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,133,358,724.30, an increase of 5.91% compared to the end of the previous year[10] - The equity attributable to shareholders at the end of the reporting period was ¥6,444,707,644.55, an increase of 2.30% year-on-year[10] - The company's total liabilities amounted to CNY 2,799,492,186.42, compared to CNY 2,350,271,646.82 in the previous year, showing an increase of around 19.0%[40] - The company's cash and cash equivalents decreased to CNY 806,026,761.31 from CNY 1,455,104,863.33, a decline of approximately 44.5%[34] - The total assets and shareholders' equity as of the end of the reporting period amounted to CNY 9,133,358,724.30 and CNY 6,333,866,537.88 respectively, compared to CNY 8,623,429,992.29 and CNY 6,273,158,345.47 in the previous year[42] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥164,563,651.04, a decrease of 135.99% compared to the same period last year[10] - Operating cash flow for the first three quarters of 2022 was negative at -164,563,651.04 RMB, compared to a positive cash flow of 457,238,781.75 RMB in the same period of 2021[52] - Total cash inflow from operating activities decreased to 7,848,364,523.16 RMB, down from 9,976,120,995.10 RMB year-over-year[52] - Cash outflow from operating activities was 8,012,928,174.20 RMB, a decrease from 9,518,882,213.35 RMB in the previous year[52] - The company reported a cash balance of 410,710,758.31 RMB at the end of the period, down from 653,233,261.48 RMB at the end of the previous year[53] Shareholder Information - The largest shareholder, Shanghai Pengxin (Group) Co., Ltd., holds 415,858,727 shares, representing 18.79% of total shares[20] - The top ten unrestricted shareholders include notable entities such as Tibet Zhiguan Investment Management Co., Ltd. with 91,183,431 shares, representing 4.12%[21] - The company has implemented a second phase employee stock ownership plan, with significant participation from management, including the chairman subscribing for 150,000 shares[26] - The company has a total of 41 key personnel participating in the employee stock ownership plan, representing 56.79% of the total shares allocated[29] Operational Highlights - The significant decline in net profit was attributed to a sharp drop in cobalt hydroxide market prices and increased procurement costs for raw materials[16] - The company reported non-recurring gains of ¥303,000.00 from government subsidies and ¥770,201.84 from entrusted investment management[10] - The company plans to provide guarantees for its wholly-owned and controlling subsidiaries, with a total guarantee amount not exceeding RMB 3.1 billion, including RMB 1.4 billion for Pengxin Global Resources Co., Ltd.[24] - The company has pledged a total of RMB 60 million in structured deposits and time deposits to apply for bank acceptance bills and letters of credit[29] - The company reported a significant increase in accounts receivable, which rose to CNY 108,085,170.25 from CNY 56,787,775.05, marking an increase of approximately 90.5%[37] Investment and Exploration - The average grade of ore in the 18 line mining project was reported at 9.51 grams per ton, indicating a high-quality mineral resource[33] - The total exploration progress for the 6th well's western area reached 1,294.6 meters, with significant findings of high-grade ore bodies[33] - The average geological grade of the 1050N water dam project was found to be 8.12 grams per ton, exceeding the inferred resource grade of 6.12 grams per ton[33] - The company is actively developing new mining areas, with ongoing projects showing stable and high-grade mineral deposits[33] Revenue and Costs - Total operating revenue for the first three quarters of 2022 was CNY 6,194,472,634.26, a decrease of 17.6% compared to CNY 7,519,199,255.10 in the same period of 2021[42] - Total operating costs for the first three quarters of 2022 were CNY 6,235,515,741.58, down from CNY 7,432,243,144.80 in 2021, reflecting a reduction of 16.1%[42] - The company reported a decrease in sales expenses, which were CNY 213,968,958.91 in the first three quarters of 2022, compared to CNY 106,648,705.05 in the same period of 2021[42] - Other comprehensive income after tax for the third quarter of 2022 was CNY 453,915,429.27, compared to -CNY 80,791,714.08 in the same quarter of 2021[47]